Mortgage Rates Today: BB&T, Citibank and Wells Fargo Refinance Rates for September 4, 2012
During the previous week, U.S. mortgage rates made up the majority of the ground they lost in the second half of August, therefore interest rates are once again clinging near record-low territory. This week will be an interesting one, as numerous important economic reports are scheduled to be released, that will provide us information on the current state of the U.S. economy.
Apart from domestic economic data, some interesting international events are set to kick off this week. Among these events, one of the most important is the ECB’s conference, which will be held on September 6. According to sources, the ECB’s new bond buying program will be presented at this event, in an effort to ease woes that are surrounding the Eurozone’s debt crisis. Financial markets are also looking forward to the upcoming Fed meeting, which will take place next week, as there is a possibility that QE3 will be announced.
For now, U.S. mortgage rates remain favorable, so those who are in the market for a home purchase or refinance loan and meet tight lender requirements, will see some incredibly low mortgage rates. Earlier on Tuesday, we reported on current refinance rates at Bank of America (NYSE:BAC), TD Bank (NYSE:TD) and Chase (NYSE:JPM). This report includes present mortgage interest rates at other top U.S. lenders.
Branch Banking and Trust (NYSE:BBT) offers the 30-year fixed rate refinance mortgage at a rate of 3.875% and carries an annual percentage rate (APR) of 3.972%. For those, who rather consider the 15-year FRM, it’s coming out at 3.375% and bears an APR variable of 3.510%.
Flexible mortgages at BB&T Bank are available at decent rates, with the 7/1 ARM starting at 2.750% and an APR of 2.822%. As for the 5/1 adjustable rate mortgage, the current asking rate is 3.125% which holds an APR sum of 3.188% as of Tuesday.
Those who head over to Citibank (NYSE:C), will see today’s rate for the 30-year FRM floating around 3.625% plus an APR of 3.787%. In case of the 15-year fixed refinane loan, it demands only 2.875% in interest and 3.196% by way of APR.
Rounding out the report with the current mortgage rates at Wells Fargo (NYSE:WFC), those who have been looking for an excellent home refinancing package, chances they will find a suitable one at this lender, as the long-term, 30-year fixed loan is available today at a rate of 3.750% which features an APR of 3.925%. The 15-year version of this type of mortgage loan looks favorable as well, as it starts at 2.875% and amounts to an APR variable of 3.182%.
The 5-year ARM remained unchanged today, and provides a good alternative for those borrowers, who prefer more flexible loans. This package can be locked in and taken home for as low as 2.250% and an annual percentage rate of 3.072%, if interested borrowers meet lender requirements.